Papua New Guinea has launched a new set of green finance standards and policy tools as it seeks to mobilize greater investment into climate-resilient development and strengthen the sustainability of its financial system.
The initiatives were unveiled during the Green Finance Summit 2026, which opened in Port Moresby on May 27 under the theme "Greening PNG's Financial System."
Bank of Papua New Guinea Governor Elizabeth Genia said the country was moving beyond policy discussions and focusing on practical implementation of sustainable finance reforms.
"This year, we move the conversation forward — 2026 is not about introducing ideas; it is about implementation," Genia said during the summit. She said Papua New Guinea remained committed to building policy frameworks that encourage green investment, strengthen financial-sector resilience and support sustainable economic growth.
Among the key measures launched were Version 2 of Papua New Guinea's Inclusive Green Finance Taxonomy, new standards for green loan classification and reporting, environmental risk policy guidelines for financial institutions and the establishment of a Green Finance Academy.
The summit brought together government officials, financial institutions, development organizations, investors and regional central bank representatives to discuss ways of expanding green lending, sustainable investment and climate-resilient financing mechanisms. About 250 participants attended the two-day event.
Chief Secretary Ivan Pomaleu said sustainable finance should be viewed not only as a climate initiative but also as a tool for economic development, job creation and financial inclusion.
"It is about jobs. It is about agriculture. It is about energy access. It is about infrastructure. It is about financial inclusion," Pomaleu said during the summit.
Pomaleu said public funding alone would not be sufficient to meet Papua New Guinea's development goals and called on commercial banks, pension funds and other financial institutions to increase investment in renewable energy projects, green small and medium enterprises, and resilient infrastructure.
The summit also highlighted Papua New Guinea's efforts to strengthen its green finance architecture following the launch of the Inclusive Green Finance Policy in 2023 and the Green Finance Centre in 2024. Officials said the latest reforms aim to improve transparency, reduce greenwashing risks and build market confidence in sustainable investment products.
International participants praised the country's progress in developing a sustainable finance framework.
Dr. Ma Jun, chairman of the Capacity-building Alliance of Sustainable Investment, said Papua New Guinea could serve as a model for other island economies in the Asia-Pacific region.
He said the organization was prepared to work with the Bank of Papua New Guinea and the Green Finance Centre to strengthen sustainable finance capacity and investment expertise across the region.
The summit was organized by the Green Finance Centre, a department under the Bank of Papua New Guinea, in partnership with the Agence Française de Développement, the International Finance Corp. and the Global Green Growth Institute. Organizers said the collaboration would help accelerate the growth of credible green finance solutions and support the development of a more resilient financial system in Papua New Guinea.
